China 

Why there’s no reason to be bearish about China’s slowing economy – just look at the big picture

China’s economic growth rate has been disappointing for those who had anticipated a strong upswing. However, many analysts and commentators have focused on China’s slowdown but ignored the enormous size of the economy and the various implications.Anyone who wants to understand the Chinese economy must first deconstruct their analysis into two distinctive components: structural and cyclical. Structurally, China’s natural rate of economic growth has been falling for years, as the size of the… Source link

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China 

China to throw huge public relations bash to woo global investors turned off by US trade war

China plans to stage a big public relations event this autumn to send a message to multinationals that the country remains open to businesses, despite a deepening trade war with the United States.China’s Ministry and Commerce and the Shandong provincial government announced the event on Wednesday, which will be held in Qingdao in October. It is the latest addition to a long list of government-sponsored events in China to woo trade and investment flows and attempt to present a friendly face to… Source link

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China 

Facebook’s Libra set to face competition as China races to launch digital currency, official media says

China’s central bank is racing to release its own digital currency ahead of Facebook’s Libra, according to mainland Chinese media.China Daily reported on Tuesday that the time is “almost ripe” to introduce a government-backed digital currency, citing experts close to the People’s Bank of China (PBOC).Yang Dong, director of the Research Centre of Finance Technology and Cyber Security at Renmin University of China, told the state-backed newspaper that China’s digital currency is inspired by… Source link

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China 

China increases minimum monthly wages despite soaring costs of US trade war

Concerns over rising costs and the trade war with the United States may be hastening the exit of firms from China, but that has not stopped four provincial-level administrations from raising their monthly minimum wage for local workers this year.Beijing is the latest to adjust its minimum wage, with the capital city increasing its base by 80 yuan (US$11) to 2,200 yuan (US$311) per month from July 1 following last year’s increase of 120 yuan, according to data released by the Ministry of Human… Source link

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China 

Are Hong Kong’s protests crushing the city’s role in China’s Greater Bay Area plan?

Joshua Rotbart, a gold trader and shipper, has been watching Hong Kong’s unfolding political crisis with keen interest, fearing that further protests could damage the city’s leading position in the gold market.Before this past weekend’s peaceful demonstrations, confrontations between the police and protesters had become increasingly violent over the summer, culminating at Hong Kong International Airport last week when hundreds of flights were cancelled.The cancellations disrupted the transport… Source link

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China 

China’s belt and road cargo to Europe under scrutiny as operator admits to moving empty containers

Widespread waste and fraud associated with China’s Belt and Road Initiative has been unearthed after the country’s state railway group was forced to admit this month that a significant amount of cargo containers shuttling between Chinese factories and European cities were empty.The admission by the state-run China Railway – the sole operator of the lines – followed an investigation by the Chinese Business Journal, a newspaper supervised by the Chinese Academy of Social Sciences, which found… Source link

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China 

US trade war dominates agenda at China’s premier soybean conference as American imports plummet

China’s trade war with the United States was the biggest theme at a soybean industry gathering attended by over 800 growers, traders and officials in the city of Harbin in Heilongjiang province last week, with tariffs having seriously disrupted the flow of the agricultural product between the two countries.With imports from the US having plunged, China’s soybean industry insiders at the conference heatedly debated with an unusual sense of self-importance how they can boost domestic output,… Source link

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China 

Three ways China can use policy freedoms to shore up its economy and lead the world out of the mess

The odds of a global recession happening over the next year have probably widened over 50 per cent in recent weeks. Not since the 2008 crash has the outlook seemed so bleak. Economic headwinds are building, world trade flows are slowing down fast and global confidence is struggling, leaving China highly exposed as an export-dependent economy.With increased protectionism by the United States, recession looming in Europe and local Asian trade partners feeling the pinch, China must move swiftly to… Source link

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China 

China’s proposed digital currency will help banks bridge gap on mobile payment, curb dominance of Alipay, WeChat

The People’s Bank of China’s “imminent” move to launch the country’s own sovereign digital currency underlines the central bank’s urgency to tighten its grip on the nation’s deposit pool and help banks catch up with their mobile payment business, analysts said.The PBOC set up the project in 2014 to look into launching its own digital currency to cut the costs circulating cash and boost policymakers’ control of money supply. Although the project has been closely guarded, various media reports… Source link

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China 

Police investigate FedEx package containing handgun sent from US to Chinese sporting goods firm

An investigation has been launched after a FedEx package containing a handgun was sent by a US client to a Chinese sporting goods company in Fuzhou, Fujian province, local police confirmed to the South China Morning Post.Jinan police station, under the Fuzhou Public Security Bureau, said in a statement on Sunday evening that officers from the district had seized the gun and an investigation was under way.The statement did not say whether the package contained more than one handgun or release… Source link

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